College Budget 101
Tools and Resources
Graduating soon? Are you financially ready?
5 mobile apps for college students
- Mint
-Mint helps students manage their funds by directly connecting to their bank accounts and categorizing every transaction that occurs, making it very easy to understand where your money is going.
- Toshl Finance
-This app helps students set monthly budgets for certain areas, like leisure time activities and groceries, so they are able to see if they actually followed through on their goal that was established to begin the month.
- Left to Spend
-Similar to the "$20 in an envelope per day" method, LTS is an application that helps with managing money by setting a funding limit for a certain amount of time. You subtract from that amount every time money is used, and it helps students manage how well they follow their goals.
- Check
-Very similar to the functions of Mint, Check is an app that directly connects to your bank accounts and helps you manage your money more efficiently. They also provide balance warnings and overdraft notices, as well as payment reminders.
- Debt Payoff Planner
-Different than the rest of the apps mentioned, DPP helps give students insight as to how to best pay off debt, regardless of if it is from loans or credit cards. it provides students with snapshot looks into how rates and payoff schedules work, helping students understand how to get out of debt easier.
Check out the article here.
Easiest ways to budget in college
While budgeting may not seem like an easy task, it is something that everyone has to eventually take care of. Especially in college, money becomes a commodity that everyone wishes they had more of. There are simple tips in helping combat overspending and lack of financial know-how.
- Involve your family in your budgeting process (even though you may not want to)
- Choose a time frame for your budget
- List out all of your income
- List out all of your expenses
- Plan for emergencies
- Save for big-ticket items (rent, car, etc.)
- Make sure to consistently balance your budget
College Student's Guide To Saving Money
"Institute a “no buy week” once a month."
"Save an extra dollar every week."
Check out these helpful tips on saving money! CLICK HERE
UW Credit Union Credit Consultation Service
The Credit Consultation Service is designed to benefit everyone. It's tailored exclusively to your needs – whether you're looking to review your credit report, get a better understanding of your credit score or looking to lower an existing interest rate on a loan. Many people have found that by taking advantage of this service, they’ve not only been able to better understand their financial picture, they've often been able to save substantial amounts of money over the life of their loans.
Visit Josh Webb at UW Credit Union located in Reeve Memorial Union
GradReady
Follow this Link to the Grad Ready webpage!